May 23 (Reuters) - Southeast Asian stocks fell on Wednesday, tracking losses across regional markets, as investors fretted over the impact of the possibility of a Greek exit from the euro zone.
Singapore's Straits Times index fell 1.5 percent and closed at the day's lows bringing its losses for the month to 6.5 percent. Indonesia lost 0.98 percent while Thailand fell 1.84 percent as Tuesday's bounce from oversold levels proved temporary.
Shares in PTT Exploration and Production fell more than 5.9 percent to a seven-month low on concern about a possible capital increase after the oil and gas explorer offered $1.9 billion for Mozambique-focused explorer Cove Energy .
Along with energy stocks, financials across the region were weak putting pressure on markets as the two sectors generally carry the heaviest weights on regional benchmarks.
In Singapore, UOB Ltd and OCBC fell 2.6 percent and 2.2 percent respectively and were the top two drags on Singapore's Straits Times index.
Analysts at BNP Paribas estimate that bank shares in the ASEAN region could fall by about 16 percent, on average, in the event of a mild global recession.
While that remains the brokerage's most likely scenario, BNP warned that if a global financial meltdown were to occur bank stocks could see as much as a 50 percent drop that could take valuations to those seen in the global financial crisis in 2008.
For Asian Companies click; For Asia-Pacific News click; For South East Asia Hot Stock reports, click;
SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 2780.42 2823.75 -1.53 Kuala Lumpur 1539.71 1546.84 -0.46 Bangkok 1110.70 1131.52 -1.84 Jakarta 3981.58 4021.10 -0.98 Manila 4928.53 4958.00 -0.60 Ho Chi Minh 436.75 447.94 -2.25 Change on year Market Current End prev yr Pct Move Singapore 2780.42 2646.35 +5.07 Kuala Lumpur 1539.71 1530.73 +0.59 Bangkok 1110.70 1025.32 +8.33 Jakarta 3981.58 3821.99 +4.18 Manila 4928.53 4371.96 +12.73 Ho Chi Minh 436.75 351.55 +24.24 (Reporting by Vikram Subhedar; Editing by Sanjeev Miglani)